and you assert your processor in greece adjourn violent as the country's parliament backs a new round of stinging spending cuts. i want in a decade college transfer kids off in china as president hu jintao when most of the current leadership had to step down to lead young leaders develop the country's potholes economy. plus a bigger ring over the budget britain's david cameron and german chancellor angela merkel failed to agree on e.u. spending plans during talks in london.

you're watching r t live from our moscow headquarters with me to bomb would say anger and violence have spilled over onto the streets of athens with police using tear gas and water cannon against greeks the protesting draconian new budget cuts demonstrators hurled petrol bombs with more than one hundred detained as the country's parliament pos an austerity package aimed at securing the latest bailout all of our reports from the greek capital. what we have seen though is anger on the streets of athens we saw a crowd of around one hundred thousand people gather in the meet the square just behind me in front of of the parliament building not quite quickly escalated into violent clashes between police and protesters in a matter of seconds downtown athens went into essentially in war zone for a couple of hours we saw molotov cocktails thrown flash bang grenades used also

gas used extensively again here in athens as police tried to calm down protesters who are extremely unhappy by what they see as unfair measures being taken by the government now also there was one hundred people detained by police five arrests made and we're also hearing of injuries on both sides both the police and demonstrators the people on doubted very unhappy about what's been signed into law what's essentially happened is that politicians here in greece of voted in order to allow the next round of austerity measures one hundred fifty three m.p.'s voting in favor of these latest austerity measures one hundred twenty eight against and there were eighteen stanchions what the new austerity measures mean though for the greek people is that we're going to see the retirement age rise to sixty seven there's also going to be slashes to pensions and wages and there's also going to be new laws that's going to actually make it easier for employers to fire their stuff now

all of this comes as antonius some are asleep prime minister to make thirteen point five billion worth of say a billion euro worth of savings the reason he had to do that was he was it was demanded of him by greece's three main lenders the so-called troika they said that unless these cuts were made that greece wouldn't get its next round of bailout money that's over thirty billion euros and without that money well. greece was out of the euro essentially and they would have faced a potentially devastating de fault so that's what these new austerity measures mean they've been signed into law this is the future for the greek people now. than any of us are eighty packages said to be the worst i saw in three years of the greek debt crisis jenna's china mcgrath says that constable he played the suffering on ordinary people and the situation one change for the better until greece it's

bankrupt we already have people killing themselves in front of greece you have people that are losing everything using home the last thing to go i think is going to be you know their sense that they have anybody representing them what so far what so ever you have this tyranny of the technocrat majority inside greece one hundred fifty three out of three hundred gold more austerity under people i think it is they continue to lose all hope that they have any control of their own financial destiny whatsoever how can it be anything but you know digress into but potentially civil war the financial health of the country is not going to change for the better until they realise that they are in default they're bankrupt and they tell the banks that are holding their debt and the european union and the e.c.b. and the trail that they are going to default this is what happens in the market cap of their their prospects for a return to a healthy economy has to start with them realizing that they are completely and utterly broke and start over from scratch. as one battle is the with the greek

parliament pawson and that austerity bill another is only just beginning the german chancellor has visited london amid hypes a british con a possible temple just as with myself and i agree not to veto the plans for the e.u. budget the details just ahead. china said to archer in a new group of leaders amid growing economic challenges and calls for better government a week long party congress that will perform the power transfer is now underway journalist andrew morton says reforms have been the key word in the build up to the meeting. yes senior members of china's communist party meeting just behind me here in the great hall of the people on here and i'm in square for the opening of the eighteenth party congress a congress which will see the beginnings of a once in

a decade leadership transition when president hu jintao begins to hand over the reins of power to the next generation of chinese leaders vice president xi jinping widely expected to become the next head of states now president who has just finished giving his last speech as general secretary of the communist party he's going to stand down as general secretary at the end of this week paving the way as i say for she to take over as general secretary and then as head of states in march two thousand and thirteen reform has been a buzzword around this congress has been mentioned a lot in state media in the build up so you this week and experts nine of the and analysts saying that china if it wants to continue its economic growth its economic engine it really needs to start implementing long stalled reforms you speak to people on the streets they're extremely concerned about the economy as well and people around the world generally will also be watching what the new leadership is

doing china of course a growing economic power is now the second biggest economy in the world and also turning into something more of a world superpower. reports. claim on the international stage building to new heights on this world. and throwing beyond its limits whether it outer space the arctic outer continental shelf or on your local store shelves china is making its ambitions known let's see this is made in china. made in china china. translated into massive profits for china as well as criticism now this comes amid growing concern that china is using its economic clout political lever. different. china is a very promising country i'm sure you pump your top with us but twenty try less

than five the i.m.f. says china could surpass the us economically in real terms by twenty sixteen it may not help the countless chinese who live in poverty but it sure makes rivals nervous china's economic clout has grown it is now the second largest economy in the world it's the second largest manufacturing exporter in the rimini the trainees currency is playing an increasingly important role in the world economy so there is a shift in relative economic might in the world that might have been threatened by the economic slowdown and it will be up to china's new leaders to try to reverse the trend for now they seem to be getting their way china is inching into europe to snap up ailing businesses this french vineyard is just one of the casualties. but that these people they come here and leave by learned just like to buy up a castle or jewelry on iran u.s. sanctions against oil trading with the islamic republic don't apply when you're

america's largest banker. in africa china is using cash to buy clout beating western rivals in the race to exploit the continent's vast resources in its efforts to buy influence through investments have been met with an intense public backlash in countries like pakistan and building infrastructure instead of military bases has made china the preferred superpower among locals. born into fear ok. other countries how does that make america. better that like america. their dad worked. still it has abandoned its military the country's new leaders are expected to continue to pour billions into its defense budget the second largest in the world this may. worry pentagon planners and beijing's asian neighbors but so far china's economic might has proven more powerful than the sword there are two nations which are fighting in the world what is america what is china so america is

using which is why our and there is a lot of losses and china is using up peacefully and civilized it is no loss and if the strategy is working why change it time you speeders understand the importance of soft power. and yet understand. people. to some extent and me did a certain to be studied if not to be followed completely for now a growing red dragon means that china's version of a new world order is here to stay you see captain of r t moscow. well western economies are still facing the debt crisis chinese models been a huge success team deal in asia but based in new zealand says what is military spending compared to the world's biggest economies the us is among its me that vantage is. the challenge is really going to become more daunting when china

is a leader when it's a leader in terms of technology and science. and social order and governance and so forth so this giant is model has been very successful we don't know yet whether it's going to continue to grow to a ransom and what will all the rest of the twenty first century but in the omens of the moment are pretty good china military expanded has been going up it has been going up in sync with that the economy so the proportion of. that is bent on us military as from main about two percent something like that and that is half the american they have about forty two percent expenditure as a percentage of their g.d.p. it's twice that of china their military expenditure is ten times that in china so while china is necessarily increasing its military as one might expect

it's not doing it just proportionately. once in a decade the ruling party gathers to select the next generation. on r t i darted dot com. there's little cause for celebration in israel as the country's prime minister only a short messages of congratulations to obama as he looks into the white house needs benjamin netanyahu was worried about this political future we'll explain why this. recently protests and demonstrations of any kind were banned until further notice

and by crane a curfew as if you can't go out of your home when the government doesn't want you to has already been in effect in the country since two thousand and eleven many of the protests which are now totally forbidden were related to members of the public demanding the release of political prisoners four people were also recently arrested for insulting the king over twitter wow a middle eastern country that has totally shut down any form of protest and holds you down if you tweet about the leadership so it's pretty undemocratic to me i think nato is already fueling up ready to take action some freedom into warm right not really if nato really cared about spreading democracy you'd think they'd be more consistent with their targets but that's just my opinion. well to the. audience technology innovation all the developments around russia we've got the future covered. i mean so the only city

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this is our team good to have you with us the german chancellor has visited london for crucial tolls with britain's prime minister about the e.u. budget and get a markle try to urge david cameron not to veto any increase in spending something the u.k. parliament is insisting on. earth has the tail off the talks. on the surface of it angela merkel's come here to meet david cameron to discuss over dinner the budget meetings are taking place in just a very a week's time in brussels but of course what you see in a very smooth exterior you know the very friendly and shaking hands that hides beneath the surface is very very troubled waters in the discussion you'd expect to run into some more awkward territory mainly being the whole discussion about britain's place within the e.u. itself of course we see

a big rise in the and ziyi sentiment recently we've had the british tabloids calling. america later i mean she certainly got that aura about her hasn't she she's very much been seen as heading the e.u. drive to scary teeth to try and get those countries out of the economic crisis imposing these very very harsh measures on countries such as greece and of course for it in housing estates that with the eve budget the e.u. is going to be asking for even more to the contributed to the pos it already stands at about a trillion euros so i mean that's a lot to us from a country that is going through a very tough time itself economically she doesn't look like a woman who suffers fools gladly unfortunately david cameron recently hasn't been looking like the strongest of british leaders he's had that humiliating defeat in the house of commons when rebel backbenchers pushed for their plan they were

calling for a real turn cuts in that budget and it raises the wider discussion here of course as we said about britain's place within the e.u. itself or not is a discussion of that britain is going to have to have at some point so it was anger merkel certainly going to be looking for some form you think if claire. if she. starts right now unlikely that david cameron is actually going to be able to give her that because of course the talk at the moment is not so much even if britain will have a referendum now when that will happen and until that happens until britain decides of course we can't really give her much more information than that. spurned lover has gone on a brutal killing spree in the russian capital police a russian lawyer shot six people dead and wounded two others after a bitter breakup with his girlfriend. also online while you're there check out

suspected whistleblower bradley manning is reportedly considering a guilty plea over claims lead to diplomatic cables to read leaks in a deal to avoid a potential life sentence of ontology it'll come to learn more and find more stories. while barack obama and his supporters at home and abroad are celebrating his return to the white house the reaction in one middle eastern country is less enthusiastic israel's prime minister benjamin netanyahu had openly backed obama's rival mitt romney during the lection campaign and i did send the president a short message of congratulations it seems that you know the history of strained relations with obama could now backfire as artie's policy or reports. from this. to this. it was never a secret who the israeli prime minister wanted in the white house the often public spats between his government and the obama administration of

a palestinian peace talks and iran's nuclear program did nothing to advance american israeli relations and only a mosque the two leaders personal dislike for each other we are the junior partner in this relationship both men want to succeed they need to cooperate in order to succeed and i think it's not it's not an insurmountable challenge for an attorney to fix the relationship but he has some fixing to do relations between the two countries are at an all time low and most of his radio americans were also hedging their bets on the republican candidate of the roughly eighty thousand who voted from israel four in five voted romney these few got up early to watch the results obama can be harsh make this trip to israel because he doesn't have to worry about reelection anymore and the time euro has to do with obama's tells us in many aspects because israel is dependent on america for allies and for support in the

war in the international arena the pressing issue now is what is a bomb is victory mean for israel's foreign policy after all netanyahu saw in mommy and i someone he agreed with on most issues including what to him is the most urgent stopping iran's nuclear program netanyahu is trying to convince the world to strike iran a position that until now obama has not supported the question is will israel go it alone in order to destroy completely destroy iran's nuclear weapons capability i think you need. many many strikes over an extended period of time only one country in the world that is capable of doing it in. and i don't think we will do it with the united states of america and without u.s. backing netanyahu is in a corner with the risk to strike back down from his warmongering neither position puts him in a good light netanyahu took

a gamble so openly favoring romney welcoming him in israel during the election campaign and appearing in republican campaign ads that roll of the dice could now backfire as these really elections quickly approach and that in your himself will be fighting for another term in office. r.t. . most of the world's news a massive blast has rocked the headquarters of a local security force in pakistan's largest city of course this is say a suicide bomber rammed a truck loaded with explosives leaving at least one person dead and twenty one others injured a powerful explosion collapse part of the building and triggered a fire which took over an hour to bring under control the suspected taliban attack occurred as are the city holds dozens of foreign delegates at a defense exhibition. a little bahraini human rights activist is back in court today as you hopes to appeal a three year sentence and we're a job has been serving time in prison for taking part in demonstrations in the

capital manama without permission from the authorities was previously in trouble after calling for the resignation of top government officials on twitter though he was eventually acquitted of a final appeal hearing will take place later this month. at least forty eight people have been killed and many more are missing after a massive f. quake hit guatemala landslides blocked emergency access to some areas well as many as forty homes have been severely damaged the tremors were also felt as far away as mexico city and el salvador. now some are dubious capital account with loyalist that's coming up after the break to stay with us.

which is slow often enough and knows that to ride a horse you've got to catch it first. for him it's a daily routine that you're soft as a horse breeder on the island of a horn at the heart of. his life on an isolated farm is about blue sky green grass and his horses were there sometimes it gets lonely here but horses have become part of me now i've fallen off so many times sometimes they'd bite as well it's part of my everyday life. i holmes been home rats locally just slough for centuries most still live off the land of cattle and fish every evening local villagers place their nets and in the morning the catch is always good. we always have enough here.

if by call is often called the pearl of siberia i hornets said to be the pearl of by. it's all end of fake forests. and vast staps. it's also a place of traditions respected by locals and travelers alike. an economist turned adventurer has crisscrossed by called shores and learned its customs well. you see pillars like this and thought to have supernatural powers every traveler who comes he asks. spirits to make their journey easier give them strength and fulfill their dearest wishes virtually undiscovered by tourists until some twenty years ago i was cornish quickly become a magnet for nature lovers and you will see cars but those used to five star

pampering may be in for a surprise the island's infrastructure has yet to catch up with the growing demand you're quite some way from civilization here accommodation on the island is very basic so you can forget about a t.v. or even run in water for most people a tent is the only eruption but for those who come here it's exactly what they're looking for. you believe you and your need to buy coal can be unique trip of a lifetime and the locals say once you've seen it you'll be coming back again and again.

good afternoon welcome to capital account i'm more in leicester here in washington d.c. busier headlines for a wednesday november seventh two thousand and twelve u.s. president barack obama won the election last night and after he did he said this is . what makes america exceptional or the bonds that hold together the most diverse nation on earth. bonds that's right to raise your way bond that is what makes america exceptional the ability to issue all of these bonds in exchange for the global reserve currency that allows the government to spend despite. a running trillion dollar deficits but what happens when that bond holding us all together is no longer exceptional. and gold and silver prices rallied recently ahead of the elections we'll talk about why and also is this stock of gold

over estimated by thousands of tons with a nominal value close to nine hundred billion dollars well according to an essay published by the gold money foundation the answer is yes we'll hear from one of the authors james turk gold money founder and chairman about it and why it matters plus exxon mobil and johnson and johnson borrowing for less than uncle's sam our corporate bonds the new haven for investors and could this have anything to do with government policies of privatizing gains and socializing losses we'll discuss in loose change let's get to today's capital account.

the u.s. elections are over but the economic problems facing the country are far from over not even a day has passed and already i'm seeing channels with iran those are the little bars and laura thirds saying things like countdown to fiscal cliff now this of course is the combination of automatic spending cuts and tax cuts that to its expire that would take place in january former federal reserve chairman alan greenspan was on t.v. talking about this this morning saying he doesn't think the elections will help avert this cliff take a listen. the election. has really not change the balance very much what's going on and. it will come down to the very last minute before. action is to underestimate the underlying momentum of this deficit and building up of hundreds consequences. we do not underestimate the men.